HOUSTON — Marcus & Millichap has arranged the sale of the 36,000-square-foot Gardendale Warehouses, an industrial property located at 5707 Gardendale Drive in Houston. Andrew Jewett of Marcus & Millichap's Houston office represented the seller, a Texas partnership, in the transaction and secured the buyer, a private investor.
SAN ANTONIO — 4M Realty has arranged a 1031 tax exchange for the sale of the 12,421-square-foot Castle Hills Crossroads, a retail center located at 2277 NW Military Hwy. in San Antonio. Sandi Leone of San Antonio-based 4M Realty represented the seller in the transaction. David Ballard of San Antonio-based Reata Real Estate represented the buyer, KFM Partners.
GRAYSON COUNTY — Henry S. Miller Brokerage has negotiated the sale of 80.64 acres of land, located in the northwest quadrant of Plainview Lane and Texas State Highway 289 in Grayson County. Ray Utley and Grant Brodeur of Henry S. Miller's Dallas/Fort Worth office represented the seller, a Sherman native, in the transaction. The buyer was a north Texas-based investor.
TROPHY CLUB — NorthMarq Capital has secured $9.7 million in financing for the 106,507-square-foot Trophy Club Plaza, a grocery-anchored shopping center located at 101 Trophy Lake Dr. in Trophy Club. A 63,654-square-foot Tom Thumb grocery store anchors the center, which includes tenants such as Starbucks, Verizon Wireless, Subway and Great Clips. John Stewart and Brock Yaffe of NorthMarq's Denver office arranged the financing on behalf of the California-based borrower.
HOUSTON — HFF has arranged the sale of the 456-unit Westchase Creek (formerly known as Camden Creek), located at 3000 Woodland Park Dr. in Houston's Westchase District. Craig LaFollette, Todd Stewart, Tre Banks, Chris Curry and Todd Marix of HFF's Houston office represented the seller, Camden Property Trust, in the transaction. The buyer was a joint venture partnership between Allen Harrison Co., Dome Equities and Equity Resource Investments. HFF also arranged a 7-year, 2-year interest only loan through its Freddie Mac Program Plus Seller/Servicer Program. HFF's debt placement team was led by Cortney Cole of HFF's Houston office. Allen Harrison Co. will execute a capital improvements plan for the property, which was 96 percent occupied at the time of the sale.
HOUSTON — Rankin NDG Houston LLC has purchased 73,740 square feet of land, located at the southeast corner of Rankin Road and Kuykendahl Road in Houston, for the construction of a 14,820-square-foot Walgreens. Levinson Alcoser Associates is providing architectural services for the project and Sundance Construction Co. is the general contractor. David Boniuk of Houston-based Mila Properties represented the seller, Boniuk Interests, in the transaction. Mark Davis of Houston-based Davis Commercial represented the buyer. The project is slated for an October 1, 2012, completion.
DALLAS — Chicago-based Consolidated Distribution Corp. has opened a 50,000-square-foot distribution center, located in Dallas. The new distribution center will serve the Unified Foodservice Purchasing Co-op, which manages the Yum! Brands Inc. and its restaurant systems, including KFC, Pizza Hut, Taco Bell, A&W and Long John Silver's.
SAN ANTONIO — NorthMarq Capital has arranged a $22.02 million construction loan and $8.09 million in joint venture financing for the 344-unit Pecan Springs Apartments, located on the northeast corner of UTSA Boulevard and Interstate 10 in San Antonio. John Stewart and William Jackson of NorthMarq's Dallas office arranged the 3-year loan and joint venture partnership through a regional commercial bank and an institutional investor.
BUDA — Aries Capital has secured a $4.8 million ground-up construction/permanent loan for the 83-room Microtel, located in Buda. Leonard Smith of Aries Capital's Houston office arranged the loan on behalf of the borrower, Longhorn Lodging Partners. The property will be managed by Caerus Hospitality Partners.
GRAND PRAIRIE — The 164-unit Lexington Apartments, located at 201 W. Tarrant Rd. in Grand Prairie, has been sold. The property is currently 90 percent occupied. Sam Pettigrew of Dallas-based The Cantrell Company & Partners represented the buyer, Lexington Prairie LP, and the seller in the transaction.
